Rapidus Corp., a startup funded by the Japanese government, claimed to have engaged more than 200 workers to build a state-of-the-art chip manufacturing plant by 2027, and challenger Taiwan Semiconductor Manufacturing Co.

Rapidus, a business that was just established a year ago, is investing billions of dollars in long-term subsidies to create an internationally competitive semiconductor factory in Chitose, in Japan’s farthest north, Hokkaido.

At a news conference that followed the groundbreaking for the future Rapidus factory, Rapidus President Atsuyoshi Koike declared, “This is a once-in-a-thousand-year opportunity that will never come again.”

To achieve mass production of 2nm chips in less than four years, Rapidus said it intends to install the chipset in December 2024 and start testing production.

The government of Prime Minister Fumio Kishida has promised to provide billions of dollars in subsidies to encourage local chip manufacturing to capitalize on the escalating technological competition between China and the United States and reclaim global leadership in the semiconductor industry.

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